Gift Nifty Trades Flat | Tata Groups EV Battery Push | Lemon Tree's New Hotel Deal | Top Buzzing Stocks Today

Thu, 20 Jul Pre-Open

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On Wednesday, Indian share markets continued its momentum as the session progressed and ended higher.

Benchmark indices hit all-time highs on Wednesday in early trade, driven by foreign fund inflows and optimism in the US markets. The market gave up the record levels later in the day but traded marginally higher.

At the closing bell on Wednesday, the BSE Sensex stood lower by 360 points (up 0.5%).

Meanwhile, the NSE Nifty edged higher by 97 points (up 0.5%).

NTPC, IndusInd Bank and Bajaj Finance were among the top gainers.

Hindalco, TCS and Bajaj Auto, on the other hand, were among the top losers.

Broader markets ended on a negative note. The BSE Midcap index and BSE SmallCap ended 0.6% higher.

Sectoral indices ended on a positive note with stocks in the telecom sector, power sector and energy sector witnessing most of the buying.

Shares of MRF and ABB India hit their 52-week high on Wednesday.

The rupee was trading at 82.1 against the US$.

Gold prices for the latest contract on MCX were trading marginally higher at Rs 59,797 per 10 grams at the time of Indian market closing hours on Wednesday.

At 7:50 AM today, the Gift Nifty was trading marginally lower at 19,838 levels.

Indian share markets are headed for a muted opening today following the trend on trend on Gift Nifty.

Speaking of the stock markets, the Indian stock market is on a roll. New highs are being scaled every week.

The sentiment among traders and investors alike is extremely bullish. So bullish in fact that it brings back memories of 1991.

So, what do the charts say? Are we seeing a repeat of the Harshad Mehta rally?

Find out in the below video...

Top buzzing stocks today

Tata Motors share price will be in focus today.

Jaguar Land Rover-owner Tata Group, today announced its ambitious plan to invest 4 bn Pound in an electric car battery factory in the UK.

This landmark project marks one of the most significant investments in the country's automotive industry to date.

Following the update, Investors also cheered for the company's aggressive investment plans, lifting the shares of Tata Motors 2% Higher.

L&T Technology Services will also be a top buzzing stock.

L&T Technology Services saw an increase of nearly 13% to Rs 3.1 bn in its first-quarter profit primarily driven by order acquisitions.

During this quarter, the IT company secured a significant contract valued at over US $ 50 m and secured five additional contracts each exceeding US $ 10 m. The company also formed a partnership with the state-owned BSNL to implement a private 5G network tailored for enterprise.

Lemon Tree buys a new property in Lucknow

Hospitality chain Lemon Tree Hotels has signed a license agreement for a 72-room property in Gomti Nagar, Lucknow, Uttar Pradesh under the company's brand Lemon Tree Hotel.

The property is expected to be operational by the third quarter of the financial year 2026 and will be managed by Carnation Hotels Private, a wholly-owned subsidiary and the management arm of Lemon Tree Hotels.

The property will feature 72 well-appointed rooms, a banquet, meeting rooms, a restaurant, a bar, a fitness center, and other public areas.

This latest signing, with AKM Hospitality Private, will be the third property of the group in the city including the operational, Lemon Tree Hotel, Lucknow at Transport Nagar and the upcoming, Lemon Tree Premier, Lucknow at Gomti Nagar.

The Chaudhary Charan Singh Airport is about 24 kms from the property while the railway station is just 11 kms away. The property is connected by both public and private transport from all major cities in India.

The hotel company currently operates 8,550 rooms in 91 hotels across 57 destinations in India and abroad, under its various brands - Aurika Hotels and Resorts, Lemon Tree Premier, Lemon Tree Hotels, Red Fox Hotels, Keys Prima, Keys Select, and Keys Lite.

Why Avanti Feeds share price is rising

Avanti Feeds share price on 19 July edged up after the company incorporated its subsidiary Avanti Pet Care, which will expand its business into manufacturing and trading of pet food and pet care products.

The subsidiary company shall inter-alia deal in manufacturing and trading of pet foods and feeds, pet healthcare products like medicines, shampoo, soaps, creams, grooming and other grooming-related pet care products, including pet equipment related to pet care.

This is an identical product as the existing shrimp feed.

The newly incorporated subsidiary company is estimated to complete the project implementation in two years.

The stability in the farm-gate prices suggests that shrimp culture activities are expected to gradually improve.

The market regulator revises ESM framework

The market regulator along with NSE and BSE Wednesday decided to ease rules for trading in stocks that remain under the Enhanced Surveillance Measure (ESM) framework.

Under the existing ESM framework rule, the stocks were allowed to trade only once a week. Now, this has been revised to all trading days, the exchanges said in a circular. From 24 July 2023, exchanges will permit trading on all days with +/- 2% price band.

However, the rule of 100% margin remains unchanged.

Under revised ESM action, exchanges will allow T2T settlement with 100% margin. Earlier, trading was permitted once a week with periodic call auction.

All other regulations under the ESM framework remain unchanged.

The revised framework comes days after BSE listed Mercury EV Tech had moved Securities Appellate Tribunal to challenge the ESM framework.

The ESM framework was introduced last Month for highly volatile micro-small companies. These are companies with a market cap of less than Rs 5 bn. As per SEBI, high-low price variation and close-to-close price variation are the parameters used to shortlist securities under this framework.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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